BUDAPEST, HUNGARY 5/22/08 -- Power of the Dream Ventures, Inc. (OTC BB: PWRV), one of Hungary's premier technology acquisition and development companies, today announced the filing of two PCT patent applications for the company's RiverPower technology.
"I am delighted with the filing of our international patent applications for RiverPower. As we continue to develop this technology this filing lays the groundwork for international protection for both the mechanical part and the generator part of RiverPower," commented Mihaly Zala, CTO of the company.
RiverPower is the company's small-hydro energy generation technology which converts the flow of a river into electrical power. The RiverPower machine, fully submerged in a river, is composed of a number of interconnected vertical wheels, whose torque is unified on a single axle on which sits the generator. Many of these units can be installed one behind the other for larger output. There is no need for dam construction.
RiverPower is currently undergoing a second round of testing at Vituki for technology optimization prior to building of a life sized prototype for field testing.
Power of the Dream Ventures, Inc. is a leading technology holding company. We identify and harness the unique technological prowess of Hungary's high-tech industry, turning promising ideas and ready to market products/technologies into global industry leaders. We focus on developing, acquiring, licensing, or co-developing technologies that originate exclusively in Hungary that are in prototype stage based on existing patents; in prototype stage prior to patenting; existing products that require expansion capital to commercialize; emerging science and high-technology research projects that require help in patenting, developing the product and marketing, University spin-off technologies, and ideas from the very early stage that represent "disruptive technologies." We primarily focus on providing enabling solutions in the fields of environmental technologies, power generation and storage, software products and services, biotechnology, medical devices and what we call 'disruptive technologies.' For more information please visit our website at Http://www.powerofthedream.com
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Source: Power of the Dream Ventures, Inc.